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MARK TWAIN BANCSHARES RECORD THIRD QUARTER EARNINGS UP 38 PERCENT; YEAR-TO-DATE UP 45 PERCENT

 MARK TWAIN BANCSHARES RECORD THIRD QUARTER EARNINGS UP 38 PERCENT;
 YEAR-TO-DATE UP 45 PERCENT
 ST. LOUIS, Oct. 14 /PRNewswire/ -- Mark Twain Bancshares, Inc. (NASDAQ-NMS: MTWN) today reported third quarter earnings of $7.00 million, up 37.8 percent from $5.08 million earned in third quarter 1991. The quarterly total was the fifth consecutive record- breaking quarter for the company.
 Primary earnings per share were $0.77, up 30.5 percent from $0.59 in the third quarter 1991. Fully diluted earnings per share were up 29.8 percent, to total $0.74, compared to $0.57 last year.
 Return on average assets for the quarter was 1.26 percent, up from 0.94 percent in the third quarter 1991. Return on common shareholders' equity was 17.55 percent, up from 14.93 percent a year ago. Mark Twain's third quarter results have continued the company's five-quarter trend of improving every measure of profitability over those from the prior quarter.
 For the first nine months of 1992, earnings totaled $19.744 million, up 45.0 percent from $13.618 million earned during the same period in 1991. Primary earnings per share grew 30.7 percent to total $2.17, compared to $1.66 from 1991. Fully diluted earnings increased 29.8 percent to $2.09, compared to $1.61 last year.
 Return on average assets for the first nine months of 1992 was 1.21 percent compared to 0.85 percent in 1991. Return on common shareholders' equity grew to 17.06 percent for the first three quarters, compared to 14.61 percent last year.
 "With five consecutive record breaking quarters and compounded annual earnings per share growth in excess of 15 percent over the last six-year time frame, we believe Mark Twain's performance has reached a level equivalent to the superior performing bank holding companies in the nation," said John P. Dubinsky, Mark Twain president and chief executive officer. "We also have in place the products and personnel and the services and systems to carry these trends well into the future."
 Dubinsky said that Mark Twain's core components of success have continued through the third quarter. They are: continuing development and growth of the company's fee-based business; continuing low loan losses stemming from high asset quality; low-to-moderate increases in overhead expenses resulting in improving levels of efficiency; and strong margins in the core banking business.
 Revenues from Mark Twain's key fee-based businesses -- bond, brokerage, mortgage and trust -- were up 34.42 percent in the third quarter of 1992, compared to 1991. For the first nine months, revenues from the divisions were up 37.23 percent, compared to last year. Principal areas of revenue growth have come from the one-year-old brokerage/bond office in Chicago, Mark Twain's increasingly popular World Currency (TM) CD and foreign bond sales, significant refinancing business within the Mortgage Company, strong mutual fund sales and better cross-marketing among all divisions, including banking. Additionally, the divisions have experienced cost efficiencies from gradually co-mingling many of the back-office operations of these divisions just as Mark Twain had done with its banking business years ago.
 "As each of these divisions have become greater contributors to Mark Twain's revenue streams, we have integrated their growth into the company's existing support systems and coordinated marketing efforts, which has made them increasingly profitable as well," Dubinsky said.
 Individually, revenues from Mark Twain's key fee business were up as follows for the first nine months: bond revenues were up 33.87 percent, compared to 1991; brokerage revenues increased 18.97 percent from last year; mortgage revenues increased 80.68 percent, compared to 1991; and trust revenues were up 18.76 percent from last year.
 On the banking side, Mark Twain continued to benefit in the third quarter from a higher net interest margin. Margin for the quarter was 4.61 percent, compared to 4.36 percent last year. For the first nine months, net interest margin was 4.55 percent, compared to 4.31 percent last year. Mark Twain anticipates that its margin will remain at very acceptable levels for the near term.
 Asset quality remained strong at Mark Twain in the third quarter. Non-performing assets were 1.92 percent in the quarter, compared to 2.05 percent in the third quarter 1991. Net charge-offs for the quarter were 0.06 percent, compared to 0.30 percent in the third quarter 1991. For the first nine months, net charge-offs were 0.31 percent, compared to 0.64 percent last year. Despite high quality in the loan portfolio, Mark Twain continued its conservative position in its provision for potential loan losses. The reserve allowance represents 1.66 percent of loans at the end of the period, compared to 1.33 percent last year; and it represents 161.96 percent of non-performing loans, compared to 132.35 percent last year.
 "We continue to maintain our conservative position in this regard because a strong balance sheet is an extremely positive attribute for our shareholders and customers alike," Dubinsky said. "This position reflects Mark Twain's primary objective to operate our business in a fashion that enhances shareholder value."
 Mark Twain's balance sheet totals were on a relative par with last year's figures reflecting the soft economy. Total assets were $2.20 billion, compared to $2.19 billion last year. Loans were $1.45 billion, compared to $1.50 billion last year. Deposits were $1.88 billion, compared to $1.89 billion in 1991. Shareholders' equity grew 11.9 percent to total $162.3 million, compared to $145.0 million.
 Dubinsky said that Mark Twain expects to expand its total banking assets later this year and into 1993 primarily by acquiring healthy banking organizations and banking business in the Kansas City metropolitan area and through increasing market share in both the Kansas City and St. Louis area. Mark Twain's pending acquisition of First National Bank of Shawnee (a Kansas City suburb) is subject to federal and state bank regulatory approvals. This is just the beginning of more expansion to come, according to Dubinsky.
 "In all, we are very pleased with our performance thus far in 1992. We anticipate that the fourth quarter will be very strong and our total 1992 results will be a record for the company. We should begin 1993 at a record pace," Dubinsky said.
 Mark Twain Bancshares, Inc. is a 28-year-old bank holding company with 28 banking locations: 18 throughout St. Louis, St. Louis County and St. Charles County; as well as five locations in Kansas City, Mo., including a proposed acquisition of two locations in the metro Kansas City, Kan.. area; and five in Belleville and Edwardsville, Ill. Mark Twain also operates 43 brokerage locations in six states. Related financial services include: Mark Twain Bond Department; Mark Twain Brokerage Services, Inc.; Mark Twain Commercial Finance Division; Mark Twain International; Mark Twain Leasing Co.; Mark Twain Mortgage Co.; and Mark Twain Trust Division. Mark Twain stock is traded over the counter under the NASDAQ symbol MTWN.
 MARK TWAIN BANCSHARES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENT OF CONDITION
 9/30/92 9/30/91 12/31/91
 (in thousands of $)
 Assets
 Cash and due from banks $ 82,612 $ 106,015 $ 102,361
 Interest bearing deposits with
 banks 588 559 575
 Federal funds sold and securities
 purchased under resale
 agreements 40,900 94,100 7,900
 Investment securities 453,683 350,052 446,118
 Mortgage loans held for resale 70,866 38,562 47,475
 Loans, net of allowance for loan
 losses of $24,136, $19,876 and
 $22,412, respectively 1,430,551 1,477,928 1,451,262
 Premises and equipment 27,280 26,587 26,773
 Accrued income receivable 13,691 16,434 16,946
 Other assets 78,377 79,111 70,999
 Total Assets $2,198,548 $2,189,348 $2,170,409
 Liabilities
 Non-interest bearing
 deposits $ 292,549 $ 286,877 $ 282,364
 Interest bearing deposits 1,584,083 1,606,077 1,561,990
 Total Deposits 1,876,632 1,892,954 1,844,354
 Short-term borrowings 93,109 87,179 120,008
 Other liabilities 40,192 36,673 29,883
 Long-term debt 26,278 27,552 27,369
 Total Liabilities 2,036,211 2,044,358 2,021,614
 Shareholders' Equity
 Common stock, $1.25 par value,
 authorized 14,000,000 shares,
 issued 9,417,176, 9,405,265, and
 9,405,265 shares, respectively 11,772 11,757 11,757
 Surplus 49,542 49,384 49,303
 Undivided profits 104,458 87,727 91,536
 Total 165,772 148,868 152,596
 Less common treasury stock at
 cost, 425,430, 454,081 and
 449,062 shares respectively 3,435 3,878 3,801
 Total Shareholders' Equity 162,337 144,990 148,795
 Total Liabilities and
 Shareholders' Equity $2,198,548 $2,189,348 $2,170,409
 MARK TWAIN BANCSHARES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENT OF INCOME
 (in thousands of $ except for per share data)
 For the periods ended Nine months Three months
 Sept. 30, 1992 1991 1992 1991
 Int. from earns. assets
 interest and fees on loans $ 93,547 $114,222 $30,092 $37,469
 Int. on mortgage loans held
 for resale 4,305 2,842 1,211 1,069
 Int. on investment securities
 Taxable 25,591 25,355 8,690 8,273
 Non-Taxable 353 442 112 132
 Int. on deposits with banks 17 210 5 8
 Int. on federal funds sold and
 securities purchased under resale
 agreements 593 709 441 437
 Total Interest Income 124,406 143,780 40,551 47,388
 Interest Expense
 Interest on deposits 52,364 75,039 16,217 24,028
 Interest on short-term
 borrowings 3,694 5,143 876 1,543
 Interest on long-term debt 1,534 1,758 503 534
 Total Interest Expense 57,592 81,940 17,596 26,105
 Net interest income 66,814 61,840 22,955 21,283
 Provision for loan losses 6,320 10,574 1,453 4,600
 Net Interest Income After Provision
 for Loan Losses 60,494 51,266 21,502 16,683
 Other Income
 Service charges on deposit
 accounts 5,615 3,999 1,890 1,364
 Securities gains 1,251 1,171 0 1,157
 Other 20,693 16,187 6,964 5,983
 Total Other Income 27,559 21,357 8,854 8,504
 Other Expenses
 Salaries 25,217 23,726 8,794 8,020
 Employee benefits 4,342 4,056 1,327 1,256
 Net occupancy expense 5,573 5,304 1,928 1,758
 Furniture and equipment
 expense 2,639 2,784 916 878
 Other 20,641 17,604 6,919 5,767
 Total Other Expenses 58,412 53,474 19,884 17,679
 Income Before Income Taxes 29,641 19,149 10,472 7,508
 Applicable income taxes 9,897 5,531 3,468 2,428
 Net Income $19,744 $13,618 $ 7,004 $ 5,080
 Net Income Per Share:
 Primary $ 2.17 $ 1.66 $ .77 $ .59
 Fully Diluted $ 2.09 $ 1.61 $ .74 $ .57
 Common Dividends Paid
 Per Share $ .76 $ .68 $ .26 $ .24
 -0- 10/14/92
 /CONTACT: Kris Bakken, 314-889-0781, for Mark Twain Bancshares/
 (MTWN) CO: Mark Twain Bancshares, Inc. ST: Missouri IN: FIN SU: ERN


SH -- NY057 -- 9929 10/14/92 13:52 EDT
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